US30: Breakout Bearish Channel, The Start of the Trend Reversal?

Hello Fellow Stock Investor/Trader, Here's an Outlook for Dow Jones Industrial Average or US30!

Price Action Analysis
There has been a breakout of the recent double bottom and falling wedge pattern, which is followed by a bullish hammer. This pattern typically confirms a potential reversal or bullish scenario. Furthermore, the candlesticks have moved above the dynamic support/EMA90, indicating the possible start of a bullish trend.

The momentum indicator
The MACD has formed a golden cross prior to the breakout, indicating a potential upward movement for the US30.

If the scenario unfolds as planned, after reaching the historical resistance area, there may be a pullback to 33463 before continuing its movement towards the second target.

The roadmap will be invalid after reaching the target/support area.

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"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the US30 "

Trade ativo:

Daily Timeframe: Falling Wedge Impulsive breakout

Comentário:

Finally, reach our first target :)